Green Dot (NYSE:GDOT) Trading 4.3% Higher Following Insider Buying Activity

Green Dot Co. (NYSE:GDOT) was up 4.3% on Tuesday after an insider bought additional shares in the company. The company traded as high as $11.21 and last traded at $11.19. Approximately 80,915 shares changed hands during trading, a decline of 85% from the average daily volume of 543,469 shares. The stock had previously closed at $10.73.

Specifically, major shareholder Topline Capital Partners, Lp bought 135,123 shares of the business’s stock in a transaction on Friday, November 8th. The shares were bought at an average cost of $10.94 per share, for a total transaction of $1,478,245.62. Following the completion of the acquisition, the insider now owns 6,292,788 shares in the company, valued at approximately $68,843,100.72. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analysts Set New Price Targets

Several research firms have recently weighed in on GDOT. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $11.00 price objective on shares of Green Dot in a research report on Monday, July 22nd. Barclays increased their target price on Green Dot from $7.00 to $10.00 and gave the company an “underweight” rating in a research report on Monday, September 23rd. Finally, Craig Hallum lifted their target price on Green Dot from $10.00 to $11.00 and gave the stock a “hold” rating in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $10.75.

Green Dot Stock Performance

The company’s 50 day simple moving average is $11.52 and its 200-day simple moving average is $10.39. The firm has a market capitalization of $611.78 million, a PE ratio of -10.74 and a beta of 0.91.

Institutional Trading of Green Dot

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC lifted its position in shares of Green Dot by 162.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,602 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 1,609 shares during the period. nVerses Capital LLC acquired a new position in Green Dot in the 2nd quarter valued at $25,000. Headlands Technologies LLC lifted its holdings in Green Dot by 89.2% during the 1st quarter. Headlands Technologies LLC now owns 2,743 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,293 shares during the last quarter. Quarry LP acquired a new stake in shares of Green Dot during the 2nd quarter worth approximately $32,000. Finally, Torno Capital LLC bought a new stake in shares of Green Dot in the second quarter worth $38,000. Hedge funds and other institutional investors own 92.56% of the company’s stock.

About Green Dot

Green Dot Corporation, a financial technology and registered bank holding company, provides various financial services to consumers and businesses in the United States. It operates through three segments: Consumer Services, Business to Business Services, and Money Movement Services. The company provides deposit account programs, including consumer and small business checking account products, network-branded reloadable prepaid debit cards and gift cards, and secured credit programs.